Elysee Investment Company Acquires Harlem Package Deal For $9.5M
264 West 115th Street, Manhattan, New York, NY, USA
$9,500,000
$198/SF
Building Size
47,878 SF
Asset Type
MultiFamily
Closing
Oct 14, 2021
AI
A package deal in Harlem consisting of six properties has been sold for a total of $9,500,000. The properties are located at 264, 276, and 278 West 115th Street, as well as 2120, 2122, and 2124 Frederick Douglass Boulevard, with a combined square footage of 47,878. The sale price per square foot is $198.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $9,500,000
- Market: Harlem
Elysee Investment Company, represented by Avi Dishi, acquired the properties from Yann Geron. The sale was facilitated by brokers from Cushman & Wakefield, including Ian Brooks, Jordan Sutton, Robert Shapiro, and Marquis Campbell. Richard Maltz of Maltz Auctions also played a role in the transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93